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DENVER (KDVR) – The Denver Broncos will soon be in the market for a new head coach. The team announced Sunday that it is parting ways with Vic Fangio.

While the Broncos did show signs of improvement from last year, a season in which they finished with a record of 5-11, Denver still finished under .500 and failed to make the playoffs for the sixth straight season. This includes all three during Fangio’s tenure.

“With the foundation in place, the progress that’s been made and the resources we have to get better, I’m excited about the future of our team. We will find an outstanding leader and head coach for the Broncos and our fans,” Broncos General Manager George Paton said in a statement.

The 63-year-old Fangio did deliver on defense this season, sporting one of the highest-ranked scoring defenses in the entire NFL. However, the offensive side of the football was once again an issue as entering Saturday’s season finale against the Chiefs, the Broncos ranked 23rd in the NFL scoring 19.4 points per game.

“It was an honor and privilege to serve as Head Coach of the Denver Broncos. I want to thank John Elway and Joe Ellis for giving me the opportunity to be part of this storied franchise and special community when they hired me three seasons ago,” Fangio said in a statement.

Fangio leaves Denver after year three of a four-year, $20-million contract with a club option in the final year. He is a 41-year coaching veteran with 33 seasons in the NFL. Prior to joining the Broncos, he served as a defensive coordinator in the NFL or at the collegiate level for 20 of the last 24 seasons.

Some names of potential replacements that have been floated to release Vic Fangio include:

1. Jim Caldwell (former head coach, Indianapolis Colts/Detroit Lions)

2. Brian Daboll (offensive coordinator, Buffalo Bills)

3. Doug Pederson (former head coach, Philadelphia Eagles)

4. Nathaniel Hackett (offensive coordinator, Green Bay Packers)

5. Dan Quinn (defensive coordinator, Dallas Cowboys)

6. Leslie Frazier (defensive coordinator, Buffalo Bills)

7. Brian Callahan (offensive coordinator, Cincinnati Bengals)

8. Kevin O’Connell (offensive coordinator, Los Angeles Rams)